Public Notice – Presentation of Financial Statements

as per Section 418 (3) of the Local Government Act.

In accordance with Section 418 (3) of the Local Government Act, 1993, Strathfield Municipal Council

advises that the ordinary Council meeting to be held on 26/11/2024 will include the presentation of the audited financial statements and the auditor’s reports for the year ended 30 June 2024.

2024

$000’s

2023

$000’s

A summary of the financial statements is provided below:

Income Statement

Total income from continuing operations

73,999

60,301

Total expenses from continuing operations

58,581

56,403

Operating result from continuing operations

15,418

3,898

Net operating result for the year

3,898

3,898

Net operating result before grants & contributions provided for capital purposes

(7,525)

(9,626)

Statement of Financial Position

Total current assets

52,388

35,268

Total current liabilities

(27,306)

(28,944)

Total non-current assets

521,758

503,600

Total non-current liabilities

(7,063)

(458)

Total equity

539,777

509,466

Other financial information

Operating performance ratio (%)

(11.57%)

(16.23%)

Own source operating revenue ratio (%)

65.14%

72.40%

Unrestricted current ratio (times)

5.13x

4.32x

Debt service cover ratio (times)

n/a

n/a

Rates and annual charges outstanding percentage (%)

6.28%

4.86%

Cash expense cover ratio (months)

17.30 mths

12.77 mths

In accordance with Section 420 of the Local Government Act, 1993, any person may make a submission in writing to Council with respect to the Council’s Audited Financial Statements or the Auditor’s Reports.

Copies of the Audited Financial Statements and the Auditor’s Reports may be inspected here.

Physical copies of the financial statements will also be made available at the Strathfield Council Customer Service Centre | 65 Homebush Rd, Strathfield NSW 2135

Submissions close one week after the above Council meeting has been held.